Sony mulls battery business sale

2012-11-29 14:26

((Kazuhiro Nogi, AFP))

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Tokyo – Sony is in talks with suitors including Taiwan's Hon Hai Precision over the sale of its battery business, as the Japanese firm tries to repair its dented balance sheet.

Sony, which in June announced the sale of its chemical division, was eyeing the sale to focus on core businesses, including its videogames unit, as it battles fierce overseas competition, the Nikkei business daily reported.

Hon Hai, which makes Apple gadgets in China and has been in separate talks over an investment in Sony rival Sharp, is among the prospective buyers, as well as Japanese and foreign investment funds, the Nikkei said.

Sony may also hold on to part of its battery business while selling off a stake in the division, which makes lithium ion batteries found in a range of consumer electronics, including mobile phones and computers, the report said.

"It is true that we are considering reviewing batteries and other businesses unrelated to our core electronics businesses, but we have nothing concrete so far," a Sony spokesman told AFP in response to the Nikkei report.

Sony, which expects to eke out a small annual profit after four years in the red, became the first company in the world to widely commercialise lithium ion batteries in the early nineties.

However, its global market share has more than halved from over 14% in 2008 to 6.9% in the April-June quarter this year as it runs up against competition from rising South Korean rivals, the Nikkei said.

Read more on:    sony

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.
NEXT ON NEWS24X publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Miley Cyrus can’t get enough of her new puppy

Miley's new dog is too adorable.



13 guilty pets
Meet SA's top poacher-catcher
The unusual pets of Instagram
Bertie sets a new world record!

Book flights

Compare, Book, Fly

Traffic Alerts

The Leo moon adds an element of drama and entertainment. A significant person that you may consult or confide in may play more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.